Need Eurozone SEPA transfers
1) Typical bank admin charge to send a wire transfer is €30, before any forex charges, OR receiving bank charges. So for any sum below €3000, wire transfers are impractical.
2) Per the ECB, 10% of all wires transfers are misrouted or delayed! So for all the expense, they dont even work properly.
Which is precisely why the SEPA system was created.
SEPA features automated transfers based on IBAN codes specifying the country, bank, branch and account number. Most online banking services allow users to initiate one-time or recurring payments to any payee with an IBAN code.
All BitGold needs to do is specify one receiving bank account in any Eurozone country it chooses; so users throughout the Eurozone could then execute transfers to that account gratis. Users elsewhere in Europe (EEA including Switzerland) could do likewise subject to a modest forex conversion charge. Or preferably, transfer to a nominated receiving bank in their own currency area.
Identification of deposits could be with onetime remittance codes (as at present).
Alternatively, user account ID alone would suffice, provided users use odd amounts for their remittances to make them easily distinguishable. This is what many bitcoin dealers do.